wzal
This seems to be an odd question to me because all the open compressor/motor interfaces I have done (50 to 100hp). The motor/compressor shafts are already machined for a key.
You need to match each (if each is diffrent)with the correct coupling with the correct keyway.
In addition, I would recommend that you choose a flexible plate coupling instead of a spider type. Alignment of the motor/compressor is very, very critical. A spider type is not up to that task.
Contact the compressor manufacture for motor/compressor coupling guidlines, Iam sure they will be glad to help you.
Best Regards
pennpoint